Construction: Luxury home sales down
(Shanghai Daily)
Updated: 2006-06-09 14:39
Sales of high-end preowned houses in Shanghai will be quiet while more
transactions will be seen in leasing after the central government's latest
regulatory measures were enacted on June 1, market observers said Thursday.
City Integrated Residential Services, a real estate agency that focuses on
the high-end residential market, said there have been few transactions reported
from its 18 outlets across the city since May 29 when the central government
unveiled new tax and credit policies to cool surging housing prices.
Taking One Park Avenue on Changde Road in Jing'an District as an example,
transactions during the week from May 29 to June 4 dropped 20 percent from a
week ago, according to Frank Fei, an official with City
Integrated.
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